Thomasboro, IL
Population 966 · Illinois
About Thomasboro, IL
Thomasboro is a small community located in Illinois with a population of 966 residents according to the latest US Census Bureau American Community Survey data. The median household income is $65,000 per year, which is 14% below the national median of $75,149. The median age of 45 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Thomasboro features a median home value of $109,400, which is 55% below the national median of $244,900. This makes Thomasboro one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $790, 32% below the national average of $1,163/month. Of the 491 total housing units, 79% are owner-occupied (341 units) and 21% are renter-occupied (93 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Thomasboro shows an unemployment rate of 2.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 11.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Thomasboro have an average one-way commute time of 21.2 minutes.
Education & Demographics
16.4% of Thomasboro residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 7.3% White, 1.6% Hispanic or Latino, 0.4% Black or African American, and 0.0% Asian residents, with 8.3% of the population being foreign-born.
Cost of Living in Thomasboro, IL
Compared to national averages, Thomasboro has a median household income of $65,000 (14% below the national median of $75,149). Home values average $109,400, which is 55% below the national median. Monthly rent at $790 is 32% below the US average of $1,163. Within Illinois, Thomasboro's income is 13% below the state average of $75,072, and home values are 34% below the state median of $165,779.
Why Live in Thomasboro, IL?
Thomasboro offers affordable housing with a median home value of $109,400, below the US average of $244,900, and rent that’s lower than the national average at $790/month, and a strong job market with an unemployment rate of just 2.7%. Additionally, the city features a low poverty rate of 11.7%, better than the national average, and short commute times averaging just 21.2 minutes.
Potential considerations include median household income ($65,000) that falls below the national average. However, Thomasboro’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Thomasboro has a population of 966 with a median age of 45 years. Compare Thomasboro with other cities to see how it stacks up, or explore all cities in Illinois.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Thomasboro
What is the population of Thomasboro, IL?
The population of Thomasboro, IL is 966 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Illinois.
What is the median household income in Thomasboro?
The median household income in Thomasboro, IL is $65,000 per year, which is 14% below the national median of $75,149.
What is the median home value in Thomasboro?
The median home value in Thomasboro, IL is $109,400, which is 55% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Thomasboro?
The median monthly rent in Thomasboro, IL is $790, which is 32% below the national average of $1,163/month.
What is the unemployment rate in Thomasboro?
The unemployment rate in Thomasboro, IL is 2.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Thomasboro, IL a good place to live?
Thomasboro offers a moderate cost of living, affordable housing, and a strong job market. With a population of 966 and a median age of 45, the city appeals to a broad range of residents.
How educated is Thomasboro, IL?
16.4% of residents in Thomasboro aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Thomasboro?
Key cost-of-living indicators for Thomasboro, IL: median home value is $109,400 (55% below national), median rent is $790/month, and median household income is $65,000. The home-value-to-income ratio is 1.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Thomasboro?
The poverty rate in Thomasboro, IL is 11.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Thomasboro, IL?
Thomasboro's population is 7.3% White, 1.6% Hispanic or Latino, 0.4% Black or African American, 0.0% Asian, and 2.9% two or more races. 8.3% of residents are foreign-born.